1. You collect the following production data for your firm: Q L a. Which functional form (linear, quadratic, cubic) is most 224 2 suitable to your data? Construct a scatter diagram but be sure 1.624 6 to just do the dots; don't include the lines that connect them. 454 3 Then, play around with the trendline feature and include what 68 you consider to be the best trendline. 2,011 9 b. Using OLS, estimate the firm's short-run production function. 1.392 5 Comment on the strength of the regression results. c. Calculate the Q, AP, and MP for L = 8 workers. 1.505 7 d. At 8 workers, is MC rising or falling, and how do you know? 740 4 1,771 11 2,242 10